{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/405/920/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"405-920","topic":"405","title":"Entertainment—Broadcasters","area":"Liabilities","paragraphs":8,"summary":"This Subtopic governs how broadcasters account for the liabilities they incur under license agreements for program material. A broadcaster recognizes both an asset (the program rights) and a liability when the license period begins and the conditions in 920-350-25-2 are met, measuring both at either the fair value or the gross amount of the liability, with any discount accreted as interest under Topic 835. The liability is then split between current and noncurrent on the balance sheet according to the payment terms.","concepts":["broadcast license agreement","program material rights","license period","gross versus present value measurement","imputed interest","current and noncurrent classification","broadcaster liabilities"],"categories":["Recognition","Initial measurement","Presentation","Industry-specific"],"level":"intermediate","topic_title":"Liabilities","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"405-920-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL51653203-203235\"><tr><td class=\"entry\"><strong class=\"ph b\">Paragraph</strong></td><td class=\"entry\"><strong class=\"ph b\">Action</strong></td><td class=\"entry\"><strong class=\"ph b\">Accounting Standards Update</strong></td><td class=\"entry\"><strong class=\"ph b\">Date</strong></td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><strong class=\"ph b\">Barter</strong></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/asc/405/920/#405-920-25-2\" class=\"xref\">920-405-25-2</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBarter | Superseded | Accounting Standards Update No. 2014-09 | 05/28/2014 |\n| | | |\n920…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:55403fd554eb3706e76e53cd4157d09ebd0bfdda12dd00a93d52563f6450c206","downloaded_from":"2026-09-10T00:16:39.447Z","last_downloaded_at":"2026-09-10T00:16:39.447Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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reporting by <a href=\"/glossary/b/#broadcaster\" class=\"term\" title=\"An entity or an affiliated group of entities that transmits radio or television program material.\"><span>broadcasters</span></a> for obligations incurred under broadcast <a href=\"/glossary/l/#license-agreement\" class=\"term\" title=\"A typical license agreement for program material (for example, features, specials, series, or cartoons) covers several programs (a package) and grants a television station, group of stations, network, pay television, or cable television system (licensee) the right to broadcast either a specified number or an unlimited number of showings over a maximum period of time (license period) for a specified fee.\"><span>license agreements</span></a>.</div></div>","snippet":"This Subtopic addresses the accounting and reporting by broadcasters for obligations incurred under broadcast license agreements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:611480c3bf59e4e5a6e3a0a0933638cf6b9e8bc424d697bea1ada936715fd8f6","downloaded_from":"2026-09-10T00:16:42.776Z","last_downloaded_at":"2026-09-10T00:16:42.776Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section <a altsource=\"GUID-642099DD-C1B1-4F44-9A26-7A7404AFBB25.ditamap\" class=\"ditamap\">920-10-15</a>.</div></div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 920-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e12fafa2327dfa2838bb01041b26ccaac19c96a007c22e13f7ea83ce6a904434","downloaded_from":"2026-09-10T00:16:44.901Z","last_downloaded_at":"2026-09-10T00:16:44.901Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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href=\"/asc/350/920/#350-920-25-2\" class=\"xref\">920-350-25-2</a> requires that a <a href=\"/glossary/b/#broadcaster\" class=\"term\" title=\"An entity or an affiliated group of entities that transmits radio or television program material.\"><span>broadcaster</span></a> shall recognize an asset and a liability for the rights acquired and obligations incurred under a <a href=\"/glossary/l/#license-agreement\" class=\"term\" title=\"A typical license agreement for program material (for example, features, specials, series, or cartoons) covers several programs (a package) and grants a television station, group of stations, network, pay television, or cable television system (licensee) the right to broadcast either a specified number or an unlimited number of showings over a maximum period of time (license period) for a specified fee.\"><span>license agreement</span></a> for program material when the license period begins and certain conditions specified in that paragraph are met.</div></div>","snippet":"Paragraph 920-350-25-2 requires that a broadcaster shall recognize an asset and a liability for the rights acquired and obligations incurred under a license agreement for program material when the license period begins a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3f3eb3d77e8502b818aa3370048c22dc877361570cc55bf8ef288370bcda8aee","downloaded_from":"2026-09-10T00:16:50.984Z","last_downloaded_at":"2026-09-10T00:16:50.984Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478593","source_sha256":"b5eed151b22c41e5259fcbd0f14b3bf4a0d54d18ea4d3d115e1cb4d05e634661"}},{"citation":"405-920-25-2","para":"25-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Paragraph superseded by Accounting Standards Update No. 2014-09</a>.</div></div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cf87903b8beedbbe9d70d64968d988cf47b2132c98181fafce5ba79e1f028c80","downloaded_from":"2026-09-10T00:16:50.984Z","last_downloaded_at":"2026-09-10T00:16:50.984Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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class=\"sfragment\" id=\"sfr_DB663921-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">A licensee shall report the asset and liability for a broadcast <a href=\"/glossary/l/#license-agreement\" class=\"term\" title=\"A typical license agreement for program material (for example, features, specials, series, or cartoons) covers several programs (a package) and grants a television station, group of stations, network, pay television, or cable television system (licensee) the right to broadcast either a specified number or an unlimited number of showings over a maximum period of time (license period) for a specified fee.\"><span>license agreement</span></a> at either of the following: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_DB663A31-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The fair value of the liability </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_DB663AFC-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The gross amount of the liability. </span></span></div></li></ol><span class=\"sfragment\" id=\"sfr_DB663BD6-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> If a present value technique is used to measure fair value, the difference between the gross and net liability shall be accounted for as interest in accordance with Topic <a altsource=\"GUID-AC1D0F5C-2199-496C-9FF0-FAE561FCBAAA.ditamap\" class=\"ditamap\">835</a>. </span></span></div></div>","snippet":"A licensee shall report the asset and liability for a broadcast license agreement at either of the following:\n(a) The fair value of the liability\n(b) The gross amount of the liability.\nIf a present value technique is use…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a0d0a6bfe6301b9a0aa232ede1d73e06874c28a3046e370fad04d2f5b72a0d5e","downloaded_from":"2026-09-10T00:16:52.935Z","last_downloaded_at":"2026-09-10T00:16:52.935Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478977","source_sha256":"f671679b2835c2cf9c7562811a03dda81ede541959fada4374b34be5f4cbe7f8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b1d4007d7a5fc4e5f1ea39f131bfa249e295bef0201398a20940610386e1fa20","downloaded_from":"2026-09-10T00:16:52.935Z","last_downloaded_at":"2026-09-10T00:16:52.935Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not 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class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_DB6EF78C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The liability recorded for the obligation incurred under a <a href=\"/glossary/l/#license-agreement\" class=\"term\" title=\"A typical license agreement for program material (for example, features, specials, series, or cartoons) covers several programs (a package) and grants a television station, group of stations, network, pay television, or cable television system (licensee) the right to broadcast either a specified number or an unlimited number of showings over a maximum period of time (license period) for a specified fee.\"><span>license agreement</span></a> for program material shall be segregated between current and noncurrent based on the payment terms. </span></span></div></div>","snippet":"The liability recorded for the obligation incurred under a license agreement for program material shall be segregated between current and noncurrent based on the payment terms.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ebd4ed3da1a02b3a621c5ec7b51ea2dc8a4c79937def8a57b699d1a981a0d012","downloaded_from":"2026-09-10T00:16:55.184Z","last_downloaded_at":"2026-09-10T00:16:55.184Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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class=\"asc-body\"><div class=\"norm-text\">See Example 1 (paragraphs <div class=\"xref-range displayInline\"><a href=\"/asc/350/920/#350-920-55-1\" class=\"xref\">920-350-55-1 through 55-7</a></div>) for an Example illustrating the accounting for a <a href=\"/glossary/l/#license-agreement\" class=\"term\" title=\"A typical license agreement for program material (for example, features, specials, series, or cartoons) covers several programs (a package) and grants a television station, group of stations, network, pay television, or cable television system (licensee) the right to broadcast either a specified number or an unlimited number of showings over a maximum period of time (license period) for a specified fee.\"><span>license agreement</span></a> for television program material in accordance with this Topic.</div> </div>","snippet":"See Example 1 (paragraphs 920-350-55-1 through 55-7) for an Example illustrating the accounting for a license agreement for television program material 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A broadcaster recognizes both an asset (the program rights) and a liability when the license period begins and the conditions in 920-350-25-2 are met, measuring both at either the fair value or the gross amount of the liability, with any discount accreted as interest under Topic 835. The liability is then split between current and noncurrent on the balance sheet according to the payment terms.","key_points":["A broadcaster recognizes an asset and a liability for rights acquired and obligations incurred under a program license agreement when the license period begins and the conditions of 920-350-25-2 are met (405-920-25-1).","The licensee reports the asset and liability at either the fair value of the liability or the gross amount of the liability (405-920-30-1).","If a present value technique is used to measure fair value, the difference between the gross and net liability is accounted for as interest under Topic 835 (405-920-30-1).","The recorded liability must be segregated between current and noncurrent based on the payment terms of the license agreement (405-920-45-1).","The Subtopic uses the same scope as the Overall Broadcasters Subtopic, Section 920-10-15 (405-920-15-1).","Example 1 at 920-350-55-1 through 55-7 illustrates the accounting for a television program license agreement (405-920-55-1)."],"categories":["Recognition","Initial measurement","Presentation","Industry-specific"],"audience_level":"intermediate","student_note":"This is a rare instance where GAAP permits a policy choice between gross and fair (discounted) value for a liability — students often wrongly assume discounting is mandatory. 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